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2018 Idaho Statutes
Title 28 - COMMERCIAL TRANSACTIONS
Chapter 4 - UNIFORM COMMERCIAL CODE — BANK DEPOSITS AND COLLECTIONS
Part 5 - COLLECTION OF DOCUMENTARY DRAFTS
Section 28-4-501 - HANDLING OF DOCUMENTARY DRAFTS — DUTY TO SEND FOR PRESENTMENT AND TO NOTIFY CUSTOMER OF DISHONOR.
Universal Citation: ID Code § 28-4-501 (2018)
28-4-501. HANDLING OF DOCUMENTARY DRAFTS — DUTY TO SEND FOR PRESENTMENT AND TO NOTIFY CUSTOMER OF DISHONOR. A bank that takes a documentary draft for collection shall present or send the draft and accompanying documents for presentment and, upon learning that the draft has not been paid or accepted in due course, shall seasonably notify its customer of the fact even though it may have discounted or brought the draft or extended credit available for withdrawal as of right.
History:
[28-4-501, added 1967, ch. 161, sec. 4-501, p. 351; am. 1993, ch. 288, sec. 42, p. 1073.]
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